KUALA LUMPUR: Investors' fears over disruptions to global oil supply intensified after three vessels were struck by projectiles in the Straits of Hormuz, underlining Iran's threat to attack any vessel that attempted to pass the crucial shipping lane.
Brent crude futures surged nearly US$99 a barrel, putting stock traders in panic mode amid the threat of soaring inflation and global economic disruption.
Asian markets fell as the Thursday trading session commenced, with Japan's Nikkei sliding over 1% and Singapore's Straits Times shedding 0.3%.
Malaysia's benchmark FBM KLCI was down nearly 13 points or 0.75% to 1,696.19 as at the time of writing.
...